Financial Planning

Each program has a unique cost and financing study abroad requires planning. Student Academic & Financial Services provides financial advising, and students are encouraged to schedule their first meeting with a planner at least six months prior to program departure.

Don’t make assumptions about your financial eligibility. All students should talk with their JWU financial planner about funding study abroad.

For your financial planner to properly assist you with a comprehensive plan, domestic students must:

1. Complete a Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov as soon as possible after January 1 (JWU ’s FAFSA code is 003404) to be considered for need-based aid.

2. If your program is in the summer, complete a Summer Financial Aid Application as soon as possible, usually available starting the third week of February.

For all JWU students:
JWU Merit-based Scholarship for Study Abroad: If you have an existing JWU merit scholarship (that is, not need-based), during the academic year, up to $1,500 can also be applied towards a summer Study Abroad program.

Talk to your financial planner about which costs can be covered by financial aid. Enrollment in a program of study abroad approved for credit by JWU may be considered enrollment at JWU for the purposes of applying for Title IV aid.

TRAVELING WITH MONEY

Creat a budget for your spending money before you leave! Foreign currency can feel like play money, but there are ways to protect yourself against a damaged bank account.

1. Know the exchange rate of your destination country.

2. Diversify your sources of money between cash, ATM-able credit cards, and back-up credit cards. In addition, pack the different sources of money in different locations throughout your luggage.

3. Always carry a minimum of $100-$200 cash in foreign currency before leaving the U.S. This will allow you to buy food or get a taxi upon arrival without interruption or stress. Currency exchange kiosks are typically available in large airports, but they may be closed. Don't take the risk.

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